The Advantages of a High Risk Merchant Account
Risky businesses find it hard to get approved for a merchant account from traditional banks and other finance institutions. Banks and most payment processors usually shy from risky businesses as a result of risks and higher chargeback rates associated with this kind of businesses.
Fast approvals in 24 – 48 hours
No setup fees for most merchants
RISKY merchants approved
High volume solutions: load balancing gateways and multiple MIDS
Chargeback protection and chargeback prevention programs available
iCheck Check Processing service, featuring quick payments
Chargebacks are a major problem for risky merchants and are one of the primary factors in lowered approval ratings. EMB has partnered with Ethoca and Verifi to make chargebacks something of days gone by.
RISKY Merchant Account Benefits
Risky merchant accounts feature a amount of benefits. Below you will get 3 high risk merchant account benefits.
Lower Risk of Account Termination
Low risk merchant accounts have their own risks. When the merchant account owner handles too many chargebacks, the account can be terminated. As for high risk merchant accounts, the provider already knows the potential risks behind the account. Whenever a chargeback happens or a fraudulent card is used, the provider gets the company take some measures to prevent fraud.
Better Security Measures
Risky merchant accounts use reliable detection techniques through the transaction process to ascertain if the card is legitimate. These techniques help protect the business, the merchant provider, and the card’s original owner from theft.
Access to Larger Markets
Opening up a higher risk merchant account allows to create a site for sales online and over the phone. Such website can serve as a virtual catalog for offering products to a person with an web connection. Without a website, a company can reach larger markets and can restrict itself to a local market.
Being a high risk business doesn’t mean you can have any benefits. Risky merchant accounts boast several benefits that are essential for your business and can help you grow and increase profits.
